Kevin J. Pearson - Jan 28, 2022 Form 4 Insider Report for M&T BANK CORP (MTB)

Role: Vice Chairman, Director
Signature: By: Stephen T. Wilson, Esq. (Attorney-In-Fact)
Stock symbol: MTB
Transactions as of: Jan 28, 2022
Transactions value $: -$124,062
Form type: 4
Date filed: 2/1/2022, 07:23 PM
Next filing: Feb 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MTB	Common Stock	Award	$0	+2.33K	+6.19%	$0.00	39.9K	Jan 28, 2022	Direct	F1, F2, F3
transaction	MTB	Common Stock	Tax liability	-$124K	-721	-1.81%	$172.07	39.2K	Jan 28, 2022	Direct	F4
holding	MTB	Common Stock						8.67K	Jan 28, 2022	By 2020 GRAT	F5
holding	MTB	Common Stock						3.06K	Jan 28, 2022	By 401(k) Plan	F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	MTB	Phantom Common Stock Units						3.29K	Jan 28, 2022	Common Stock			Supplemental 401 (k) Plan	F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares issued pursuant to vesting of performance-based restricted stock units, which were granted to the reporting person on January 29, 2021, under the 2019 M&T Bank Corporation Equity Incentive Compensation Plan and vested upon achievement of performance goals for the applicable performance period.
F2	The performance-based restricted stock units were granted under an equity incentive compensation plan maintained by M&T Bank Corporation, and therefore the reporting person paid no price for the performance-based restricted stock units.
F3	Includes 831 shares acquired from the 2020 GRAT in satisfaction of its annuity obligation on October 25, 2021. See footnote (5) for information regarding the 2020 GRAT.
F4	Shares withheld for taxes upon the settlement in shares of performance-based restricted stock units previously granted to the reporting person.
F5	The indicated shares are held by a Grantor Retained Annuity Trust ("2020 GRAT") of which the reporting person is trustee. The reporting person continues to report beneficial ownership of all of the M&T Bank Corporation common stock held by the 2020 GRAT but disclaims beneficial ownership except to the extent of his pecuniary interest therein.
F6	The information presented is as of December 31, 2021.
F7	The reported phantom common stock units are held by the reporting person in an excess benefit plan account maintained by M&T Bank Corporation and represent a like number of shares of M&T Bank Corporation common stock. The phantom common stock units may only be settled in cash and distributed in accordance with the terms of the plan. The reported phantom common stock units also include units acquired through the dividend reinvestment feature of the plan.